A bullish breakout above the zone of 1.2770-1.2800 was observed on July 15 (highlighted in pale pink).

The long-term bullish target was projected towards the level of 1.3270 (100% Fibonacci Expansion). However, bulls moved further above the resistance level, which was bypassed on September 23.

A significant bearish rejection was observed around 1.3450 where the 141.4% Fibonacci Expansion was roughly located.

Later on October 1, bearish persistence below 1.3270 (Fibonacci Expansion 100%) was expressed. This applied enough bearish pressure to expose the next support levels around 1.2910 and 1.2750 where long-term buy entries were suggested.

On October 23, daily closure above 1.3100 was achieved. This enhanced the bullish side of the market.

Risk Disclosure: GuruTrade assumes no liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and forex signals. Operations in the international foreign exchange market contain high levels of risk. Forex trading may not be suitable for all investors. speculating only the money you can afford to lose. GuruTrade remind you that the data contained in this website is not necessarily real-time and may not be accurate. All stock prices, indexes, futures are indicative and not appropriate for trading. Thus, GuruTrade assumes no responsibility for any trading losses you might incur as a result of using this data. Version of the document in English is a defining and shall prevail in the event that there are discrepancies between the English and Russian languages. Seeking stocks, quotes, charts and forex? Take a look at the portal GuruTrade.com - the best directory of brokers and modern economic calendar for your service!